Porsche makes EUR 6.8B from VW options, VW opens India plant

By Hercules Kataveli, B2P
Published on Tuesday March 31, 2009 at 10:56 am ET
Updated 05-3-10, 11:01 pm ET

German sports carmaker Porsche has made EUR 6.8 billion by buying long Volkswagen options. The money was made in only six months ended Jan 31, 2009.

Porsche went long in VW while others shorted the company, including German billionaire Adolf Merckle, 74, who lost $400 million by shorting the VW shares, who later apparently committed suicide by stepping into the path of a train in his home town of Blaubeurennear in southwestern Germany. 

In related news, VW has just unveiled a new $767 million production facility in western India, where the company hopes to produce 110,000 vehicles annually. The new plant is now the most advanced plant VW has and is expected to employ 2,500 people.

VW sees significant growth potential in India. VW board member Jochem Heizmann said, “India’s automobile market will grow each year from the current 1.2 million vehicles to over two million vehicles by 2014,”

tag TAGS: , , , ,
               
Short URL: https://business2press.com?p=2757
Recommended:
b2p Ensure that you follow us on Twitter and Like us on Facebook
Hercules holds a B.Comm Finance from Ryerson University in Toronto, Canada. He is a Chartered Financial Analyst (CFA) level 3 candidate. He was previously a contributor at FiLife, a finance website owned by Dow Jones and IAC. Write to [email protected]
checkmark
We are perfectly committed to the highest ethical and professional codes of conduct and standards in the industry on a firm wide basis. Learn more about us, our contributors, and our governance
b2p
We encourage you to comment. Comments are moderated. Comments that are abusive, off-topic, have marginal substance, or include promotional content will be removed. We cannot facilitate requests to edit or remove comments, or explain moderation decisions

Business 2.0 Press publishes exclusive business tech news and analysis covering start-ups to large-caps from Bay & Wall streets since 2008 from a group of highly knowledgeable industry professionals that abide by the toughest industry codes of conduct and professional standards lightMore

lightAdd value by subscribing (RSS)

HEADLINES

FEATURED

logo
StockFractions.com has the most stock ratios for public companies. Get the most comprehensive micro insight on public firms available on the web, all for free.
Stock Fractionsgo

title
Colon cancer is one of the leading causes of death. Irrespective of family history, everyone is exposed to the risk. About 90% of colon cancer cases begin from non-cancerous tumors, polyps, which could form in the large bowel. Screening with a colonoscopy will painlessly remove any polyps hence almost entirely reducing your risk of developing the horrible disease. The good news is that about 90% of colon cancer cases are preventable through a simple (yes, simple) colonoscopy.
Learn moreatom
Public service message from Business 2.0 Press